Thailand Tourism Market to be valuated at USD 76.60 bn in 2032

18-12-22

The Thailand tourism market which is now valued at USD 57 billion in 2022 and is projected to increase at a CAGR of 3% to reach USD 76.60 billion in 2032. These insights are based on a report on Thailand Tourism Market by Future Market Insights.

The rich history, wildlife, food and many other factors are expected to increase the influx of tourists and drive the demand for Thailand tourism. Thailand is located in South East Asia. In fact, Thailand remains to be the only South East Asian country which was never colonised by any European Nation. The name ‘Thailand’ itself means ‘land of the free’.

Thailand was once popularly known as ‘the Venice of East’. The reason being that the waterways were the mode of transportation. Although Thailand doesn’t have any official religion, more than 90% of Thais are Buddhist. The Thai is the most widely spoken language in Thailand. Apart from that, Thailand also has the reputation of being the largest exporter of Orchids in the world. Moreover, the bumble bee bat, which is the smallest mammal in the world is found in Thailand.

What are the Current Market Dynamics pertaining to Thailand Tourism Market?

Thailand is believed to be one of the most famous destinations for rock climbers. The tourists from across the world visit the Railay beach for rock climbing. This something which tourists look forward to while visiting Thailand. Thailand is also the place for some of the most beautiful beaches. The beaches are or everybody, be it for spending time in solace, for partying, or for learning to dive.

Both Phuket and Krabi, which are located in Southern Thailand are thronged by tourists across the world. They are incredibly famous for their well-developed facilities and plentiful activities. Likewise, on the East of Thailand, islands like Ko Pha-Ngan and Ko Samui are stunning beaches and is especially for those who want to stay away from the hustle of the cities, and need to spend some peaceful time.

Who are Some of the Key Players in the Thailand Tourism Market?

Some of the key players in the Thailand tourism market are: Bangkok Travel Agency Thailand, NS Travels & Tours, Elite Holiday & Agency, Sun leisure World, Holiday Tours and Travel, Bike Tours Thailand, Thailand Holiday Group, Thai Travel Plus Co. Ltd., TIC Holidays Company Limited, Thrilling Thai tours ltd., Discover Thailand Co. Ltd., Exodus Travels, and Thailand Elite Travel Agency.

Thailand tourism market is expected to face a tough rebuild as all the covid travel curbs ends from July 2022. The rebuild is expected to be challenging following tough norms and lack of tourists visiting Thailand. Thailand’s new tourism campaign, Amazing Thailand New Chapter, is an attempt to revive the country’s economy.

Author: Kanchan Nath